Canadian delegation promotes small, medium industries
Egypt-Canada, Economics, 10/15/2002

Small industries are said to constitute the base for industrial development in many developed countries and contribute much to the national economies of these countries.

Egypt, as a promising emerging market, has realized the significance of the small and medium industry sector for establishing a strong economy. This was embodied in support to these sectors.

Despite the fact that this sector has been facing various obstacles that were said to be hindering its development, the government is very serious and strenuous efforts are being exerted for development.

Part of these efforts is making the best use of other countries' expertise in this field.

Within that framework, an Egyptian delegation yesterday wrapped up a two-week visit to Canada.

Economist Nabil Yehia, from the Small Business Unit at the Ministry of Foreign Trade, headed the delegation.

It also included researchers from the unit, together with the chairman of the Egyptian Export Development Bank, Hamdi Moussa.

The Egyptian Ambassador to Canada, Sallama Shaker stressed Egypt's keenness to promote the small and medium industries sector saying it was the best way, not only to support the national economy, but also to create new jobs.

Ambassador Shaker yesterday paid a visit to Edmonton, capital of the Canadian province of Alberta, in one of her visits to the areas where Egyptian communities are a found, to become acquainted with their problems and to help seek solutions.

The visits also sought to encourage expatriate Egyptians there to direct part of their investments back to their homeland.

Accompanying Ambassador Shaker, plenipotentiary Bahaa el-Attar, offered a detailed review of the investment opportunities available in Egypt.

Ambassador Shaker, commenting on the visit by the Egyptian delegation, said that they had had an intensive program with meetings with officials from 25 Canadian authorities and agencies concerned with the small and medium business sector and marketing in three big cities, Ottawa, Vancouver and Victoria.

Shaker noted that Canada was contributing up to $127 million to the development projects in Egypt, especially education and small businesses, through a program designed by the Small Business Unit at the Egyptian Foreign Ministry in cooperation with the Canadian International Development Agency (CIDA) and the International Development Research Center (IDRC).

She also urged members of the Egyptian community in Canada to discuss the potential of establishing companies to be entrusted with marketing Egyptian products on the Canadian market.

Previous Stories:
  Egyptian exports to Canada increased by 20 per cent   (4/1/2002)
  $113 million in Canadian investments to prospect for oil, gas   (3/26/2002)
  Canada confirms support for development project   (2/21/2002)

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